Updated on February 23, 2009
With a baby on the way, I thought that it would be prudent to apply for a life insurance policy. After doing some research, I decided to go with a term life insurance policy with a well known company in Canada. During the application process, I discovered that this particular company offers four different rates for their policies, called N1, N2, N3, and N4. Each person is assigned one of these rates based on the results of a nurse's visit, during which time questions are asked about medical history and current lifestyle, blood pressure and pulse rate are checked, and blood and urine samples are taken. I was told that the vast majority of people are put into the most expensive category, N4, while a small percentage of people in especially good health with low to no risk factors for disease are put into a less expensive category, with N1 being the least expensive. Read more